This bill appropriates $5,000,000 from the bond proceeds fund to the commissioner of transportation for grants under the Transportation Economic Development Infrastructure Program, as outlined in Minnesota Statutes, section 116J.436. The bill also authorizes the commissioner of management and budget to sell and issue state bonds up to the same amount to fund this appropriation, following the procedures established in Minnesota Statutes, sections 16A.631 to 16A.675, and the Minnesota Constitution, article XI, sections 4 to 7.

Additionally, the bill includes a provision stating that it will take effect the day following its final enactment. This legislative action aims to enhance transportation infrastructure and economic development within the state of Minnesota.